Bangladeshi industry lobby to study SAARC trade loss

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Last Updated: Thu, Nov 15, 2012 16:50 hrs

Kolkata, Nov 15 (IANS) A leading Bangladesh industry lobby will study the total volume of intra−regional trade being lost in the SAARC region due to the non−tariff barriers and give its recommendations on expected benefits once the hindrances are minimised.

The report is scheduled to be published by March next year.

"Now, the popular hypothesis by trade economists is that if non−tariff measures are minimised, if not eliminated totally, then there is a possibility of a substantial increase in trade. But, there has not been any structural study on that. So this is an attempt to do that," Metropolitan Chamber of Commerce and Industry (MCCI), Dhaka, secretary Shaquib Quoreshi told reporters here Thursday.

MCCI is Bangladesh's oldest and most representative business chamber.

"We will try to find out in the study the total volume of trade being lost in SAARC (South Asian Association for Regional Cooperation) due to the not−tariff barriers. We will do econometric modelling at least for a few products," Quoreshi said.

He added that there were 28 partners (target respondents) under this project and that the chamber would talk to people of the major chambers of the eight SAARC countries.

Quoreshi was in the city to meet representatives of the Bengal Chamber to find out the views of trade bodies and the business community on the prevailing non−tariff measures they came across while trading with SAARC countries.

The report, also containing a standard database, would give its recommendations on minimising the non−tariff barriers.